Rent seeking
a. is the attempt to find apartments in a rent-controlled city
b. only makes sense in a monopolistically competitive industry
c. is a zero-sum game because the public's loss is the rent seeker's gain
d. is the expenditure of resources to obtain favorable treatment from government
e. occurs because of cyclical majority
D
Economics
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Which of the following decreases during recessions?
a. real GDP b. unemployment c. layoffs and consumer spending d. layoffs but not consumer spending
Economics
According to the law of demand
A) people buy more of a good when the price rises. B) people buy more of a good when their income rises. C) people buy more of a good when the relative price rises. D) people buy more of a good when the price falls.
Economics